Stepping into year 2000, Cheung Kong Infrastructure Holdings
Limited ("CKI") announced a new milestone in the
new millennium. CKI plans to invest in a RMB 1.2 billion infrastructure
development plan in association with the city of Panyu in
Guangdong Province. This large-scale development plan comprises
a number of infrastructure projects, including the building,
operation and management of the Beidou Bridge for which a
contract was signed at the end of 1999. Letters of intent
to construct the Linggang Bridge, a landfill, and a sewage
treatment system in Panyu have also been signed. CKI's latest
strategic investment in Panyu marks a new milestone in the
Group's development in Guangdong Province, demonstrating again
the use of its clustering strategy.

Located along the shore of the Pearl River Delta, Panyu enjoys
excellent geographic advantages. As a key transport hub in
Guangdong Province, Panyu is connected in the north to Guangzhou,
and in the west to important industrial towns such as Nanhai,
Fo Shan and Shunde. The city's Nansha Road and Guangzhou -
Shenzhen Highway are also conveniently connected to the Humen
Bridge leading to Shenzhen, which enjoys easy access to Hong
Kong.

CKI's new project, Beidou Bridge, is 3.25 kilometers long.
In the north, it begins at Panyu City's Shawanzhen Yangwuzhou,
and is connected to the City's Western Ring Road and the 1904
Provincial Road. It then passes Chongkoucun, goes across Shawan
Waterway, and ends at Lanhezhen Beidouwei. The bridge eventually
connects to the old Guangzhou Zhuhai Highway via the 09007
Road.

Beidou Bridge is Panyu city's second bridge connecting the
northern and southern parts of the city. The existing Shawan
Bridge is heavily loaded with an average traffic of 50,000
cars passing through it everyday. Once completed, the Beidou
Bridge would not only ease congestion on Shawan Bridge but
would also smooth out the traffic in the northern part of
the city, and this would contribute towards the economic development
in the area.

The Beidou Bridge project is a joint venture between CKI
and the Panyu Road & Bridge Company. The total investment
amounts to RMB 170 million, with CKI taking 40% interest.
The cooperation period will be 26 years. Construction work
for the Bridge commenced in early 1999, and is expected to
be open for operation in late 2000.

Group Managing Director of CKI, Mr. HL Kam said, "The
beginning of the year is the time to review past results and
start new initiatives. Looking back at 1999, CKI experienced
significant breakthroughs in geographic expansion. We explored
suitable investment opportunities all over the world and successfully
acquired 19.97% of Envestra, Australia's largest publicly
listed natural gas supplier, and also won the tender in operating
Electricity Trust of South Australia. While we look for other
opportunities overseas, we will continue to pursue projects
in Mainland China and Hong Kong. With the Asian economies
gradually recovering from the financial crisis and China's
impending entry to the World Trade Organization, the Mainland
is expected to benefit directly from these developments and
there will be plentiful opportunities."

Mr. Kam continued, "Guangdong Province is close to Hong
Kong and was one of the first provinces in China to open up
its economy and record excellent growth. It has always been
a key area for our investments. Panyu itself boasts many advantages,
and it has quickly become the central hub of Guangzhou, Hong
Kong and Macau with the rapid development of its transportation
infrastructure. We have every confidence in the city's future
development."

"Panyu is one of the focal points of CKI's future expansion
plans, and the Beidou Bridge is the first of many CKI investments
in Panyu. We will continue to explore and identify new projects
for investment. In fact, there are already a number of infrastructure
projects under negotiation in Panyu. Among them, letters of
intent amounting to RMB 1 billion for the Linggang Bridge,
a landfill and a sewage treatment system have also been signed.
By applying our Group's clustering strategy in this high growth
potential region, we will seek out further infrastructure
development opportunities both in Panyu and in other parts
of Guangdong Province," stated Mr. Kam.

CKI is a constituent stock of the Hang Seng Index. In terms
of market capitalization, CKI is the largest publicly listed
infrastructure company in Hong Kong. CKI's three core businesses
are infrastructure materials, energy, and transportation.
The company has investments in Mainland China, Hong Kong,
the Philippines, and Australia.